Maldives and India Strengthen Ties
President Mohamed Muizzu’s Visit to India
Maldives President Mohamed Muizzu recently visited New Delhi, India, where he emphasized the strong partnership between the Maldives and India. During a joint press statement with Indian Prime Minister Narendra Modi, President Muizzu expressed gratitude for India’s support in the socio-economic and infrastructure development of the Maldives.
Key Agreements and Support
President Muizzu thanked PM Modi for the budgetary support and highlighted the comprehensive vision document agreed upon by both nations. This document outlines a partnership focusing on economic and maritime security, development cooperation, trade, digital and financial initiatives, energy projects, health cooperation, and maritime security.
India has extended significant financial support to the Maldives, including Rs 30 billion (USD 360 million) and a USD 400 million bilateral currency swap agreement. Additionally, India granted a USD 100 million Treasury bills rollover to the Maldives.
Infrastructure and Financial Initiatives
Prime Minister Modi and President Muizzu inaugurated the runway of Hanimaadhoo International Airport and witnessed the first RuPay card transaction in the Maldives. PM Modi announced future connectivity through UPI, enhancing financial integration between the two countries.
India’s Commitment to Maldives
Prime Minister Modi reiterated India’s commitment to prioritizing the needs of the Maldivian people, emphasizing the importance of the development partnership as a pillar of India-Maldives relations.
Doubts Revealed
Maldives -: The Maldives is a small island country located in the Indian Ocean, known for its beautiful beaches and clear blue waters. It is a popular tourist destination.
Mohamed Muizzu -: Mohamed Muizzu is the President of the Maldives. He is a leader who represents his country and works with other countries to improve relations and development.
Partnership -: A partnership is when two or more people or groups work together towards a common goal. In this context, it means India and the Maldives are working together to help each other grow and develop.
Currency swap agreement -: A currency swap agreement is when two countries agree to exchange their currencies with each other. This helps them trade more easily and supports their economies.
Vision document -: A vision document is a plan that outlines goals and strategies for the future. It helps countries like India and the Maldives work together on important issues like security and economic growth.
Hanimaadhoo Airport -: Hanimaadhoo Airport is an airport in the Maldives. It is important for travel and tourism, and its runway was recently improved with help from India.
RuPay card -: RuPay is an Indian payment card system, similar to a debit or credit card. It allows people to make payments easily, and now it can be used in the Maldives too.
UPI connectivity -: UPI stands for Unified Payments Interface, a system in India that allows people to transfer money easily using their phones. Plans are being made to connect this system with the Maldives for easier transactions.